Ukrainian startup Zvook, which develops acoustic sensors for detecting unmanned aerial vehicles and missiles, has secured investment from a new fund managed by Czech venture capital firm DEPO Ventures. The financial terms of the transaction have not been disclosed. The investment in Zvook marks the first deal completed by the new fund, established with the involvement of the Czech National Development Bank.
The fund was established by National Development Investments, a subsidiary of the Czech National Development Bank, under the Fund Ukraine program. A total of €3.8 million is earmarked for investments in technology startups from Ukraine, Moldova, and Georgia. Subject to certain conditions related to private capital commitments and the deployment of funds, the fund's size could increase to €5.8 million.
The fund targets early-stage companies seeking to expand their operations and establish partnerships in the Czech Republic. Investments in individual startups may reach €500,000. The fund also plans to co-invest alongside other investors.
Priority sectors include fintech, space technology, defense technology, dual-use technologies, cybersecurity, and energy. According to Petr Šíma, Managing Partner and Co-Founder of DEPO Ventures, the fund focuses on technologies that contribute to strengthening Europe's resilience.
Zvook is developing a network of acoustic sensors designed to detect aerial objects, including drones and missiles. The startup is also testing passive hydrophones for underwater monitoring. These technologies can be used to monitor aerial and underwater threats without relying on active detection systems.
In addition to providing financing, DEPO Ventures plans to help its portfolio companies establish business relationships with Czech enterprises and identify opportunities for joint manufacturing ventures. In particular, the fund intends to support Zvook in finding partners in the Czech Republic to help scale up production.
Founded in 2016, DEPO Ventures has previously invested in several companies with Ukrainian founders, including Talsec, a startup developing mobile application security solutions. The new investment in Zvook expands the fund's presence in Ukraine's technology sector and reflects growing interest among Czech investors in defense and security technologies.
